Search Engines listed top source of business information by SMBs

SAN FRANCISCO, CALIFORNIA: AllBusiness.com, Inc., a leading online resource for businesses, has announced the results of its 2007 year-end “SMB State of the Union Study” and SMB Barometer. The study found 74 percent of small and mid-size business (SMB) leaders list search engines as their top source for business information to help them run their company.

The study also found 63 percent of SMB leaders will be turning to search engines even more going into the New Year. While “word of mouth” is still a solid source of information at 71 percent, this marks the first time in the “SMB State of the Union” study history that search was cited as the top source.

Overall business sentiment among SMBs is positive

For the third straight year-end forecast, SMBs are generally optimistic about their business outlook for the coming year and say the falling value of the dollar is their most important economic concern. Other findings focused on SMB outlook included:

• 55 percent of small business leaders planned to hold a holiday party while 38 percent of small businesses did not. One recent survey of bigger businesses indicated that 85 percent of companies hosted a holiday party this year.
• 30 percent of small business leaders were planning on giving year-end bonuses and 33 percent were not.
• 60 percent of small business leaders are concerned about the falling value of the dollar while 23 percent are primarily concerned about immigration.
• 78 Percent of small businesses took green measures this past year; recycling paper and trash were the most common measure.
• Overall, 73 percent of small business leaders are optimistic going into 2008 dipping slightly from 75 percent in 2006 and 79 percent in 2005.

“We have been tracking the search habits of SMB decision makers since the launch of our Web site, and we’re excited to report that search is now their dominant source of business information. This indicates how deeply seated the Internet is as a primary business tool. Search is where they start the research process and increasingly, search is where they find the best answers,” says Kathy Yates, CEO of AllBusiness.com.

“Given so many pessimistic forecasts about interest rates, the housing sector, oil prices and a potential recession, we’re also gratified to see a dose of optimism within the SMB community heading into 2008,” Yates added.

SMB Barometer stays steady and growth oriented

Launched near the end of 2005, AllBusiness.com’s SMB Barometer provides a numerical figure that measures overall SMB health by reflecting the combined values of five components, including staffing plans, business real estate trends, business branch plans, technology investment and overall business outlook. The barometer reading is currently at 63, the same that was reported fourth Quarter last year signaling continued optimism.